Working Paper
The effects of dynamic changes in bank competition on the supply of small business credit
White, Lawrence J.; Berger, Allen N.; Goldberg, Lawrence G. (2001)
We study the effects of structural changes in banking markets on the supply of credit to small businesses. Specifically, we examine whether bank mergers and acquisitions (M&As) and entry have "external" effects on small business loans by other banks in the same local markets. The results suggest modest positive external effects from these dynamic changes in competition, except that large banks may reduce small business lending in reaction to entry. We confirm bank size and age as important determinants of this lending, and show that the measured age effect does not appear to be driven by ...
Finance and Economics Discussion Series , Paper 2001-35

Conference Paper
The dynamics of market entry: the effects of mergers and acquisitions on de novo entry in banking
Bonime, Seth D.; White, Lawrence J.; Berger, Allen N.; Goldberg, Lawrence G. (1999)
Proceedings , Paper 612

Conference Paper
Of firewalls and subsidiaries: the right stuff for expanded bank activities
White, Lawrence J.; Shull, Bernard (1998)
Proceedings , Paper 608

Journal Article
Regulating housing GSEs: thoughts on institutional structure and authorities
White, Lawrence J.; Frame, W. Scott (2004-04-02)
Many of the benefits that the housing government-sponsored enterprises (GSEs) transmit to homebuyers stem from an implied federal guarantee arising from the GSEs? charter benefits and past supervisory forbearance. But this implicit guarantee also represents a risk to taxpayers if one of these GSEs?Fannie Mae, Freddie Mac, or the Federal Home Loan Bank (FHLB) System?becomes insolvent and the government provides financial assistance. ; In the wake of a $5 billion accounting restatement by Freddie Mac in 2003, concerns about taxpayer liability associated with the housing GSEs have led to various ...
Economic Review , Volume 89 , Issue Q 2 , Pages 87 - 102

Working Paper
Technological Change and Financial Innovation in Banking: Some Implications for Fintech
Frame, W. Scott; Wall, Larry D.; White, Lawrence J. (2018-10-01)
Financial intermediation has changed dramatically over the past 30 years, due in large part to technological change. The paper first describes the role of the financial system in a modern economy and how technological change and financial innovation can affect social welfare. We then survey the empirical literatures relating to several specific financial innovations, broadly categorized as new production processes, new products or services, or new organizational forms. In each case, we also include examples of significant fintech innovations that are transforming various aspects of banking. ...
FRB Atlanta Working Paper , Paper 2018-11

Working Paper
The causes and costs of thrift institution failures: a structure- behavior-outcomes approach
McKenzie, Joseph A.; White, Lawrence J.; Cole, Rebel A. (1990)
Financial Industry Studies Working Paper , Paper 90-5

Working Paper
The dynamics of market entry: the effects of mergers and acquisitions on do novo entry and small business lending in the banking industry
Bonime, Seth D.; White, Lawrence J.; Berger, Allen N.; Goldberg, Lawrence G. (1999)
We study the dynamics of market entry following mergers and acquisitions (M&As) and the behavior of recent entrants in supplying output that might be withdrawn by the consolidating firms. The data, drawn from the banking industry, suggest that M&As are associated with subsequent increases in the probability of entry. The estimates suggest that M&As explain more than 20% of entry in metropolitan markets and more than 10% of entry in rural markets. Additional results suggest that bank age has a strong negative effect on the small business lending of small banks but that M&As have little ...
Finance and Economics Discussion Series , Paper 1999-41

Conference Paper
Emerging competition and risk-taking incentives at Fannie Mae and Freddie Mac
White, Lawrence J.; Frame, W. Scott (2004)
Proceedings , Paper 922

Working Paper
Technological change, financial innovation, and diffusion in banking
White, Lawrence J.; Frame, W. Scott (2009)
This paper discusses the technological change and financial innovation that commercial banking has experienced during the past twenty-five years. The paper first describes the role of the financial system in economies and how technological change and financial innovation can improve social welfare. We then survey the literature relating to several specific financial innovations, which we define as new products or services, production processes, or organizational forms. We find that the past quarter century has been a period of substantial change in terms of banking products, services, and ...
FRB Atlanta Working Paper , Paper 2009-10

Conference Paper
The reform of Federal Deposit Insurance
White, Lawrence J. (1989)
Proceedings , Paper 258